Good afternoon, and thank you for joining us on today's call. I'm pleased to be joined by Bart Bandy, Chief Executive Officer of ReShape Lifesciences Inc., who'll provide the overview of the company's recent activities and business highlights. Tom Stankovich, Chief Financial Officer of ReShape, will then review the financial results for the fourth quarter and full year 2020 and then turn the call back over to Bart to finish. As a reminder, this conference call as well as ReShape Lifesciences' SEC filings and website at www.reshapelifesciences.com, including the Investor Information section of the website, contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those discussed due to known and unknown risks, uncertainties and other factors. These and additional risks and uncertainties are described more fully in the company's filings with the Securities and Exchange Commission, including those factors identified as risk factors in our annual report on Form 10-K and in our quarterly report on 10 -- Form 10-Q that was filed today. As an additional reminder, our stock is listed OTC, trading under the ticker RSLS. I will now turn the call over to CEO, Bart Bandy. Bart?

Thanks, James. Good afternoon, everyone, and thank you for joining us today. I would like to begin by first acknowledging the tireless work of our employees and staff as we navigate through these unprecedented times. Thanks to their tremendous efforts, ReShape has been able to adapt to the challenges posed by COVID-19 and stands positioned to emerge from the pandemic stronger than ever. This past year proved to be a pivotal time for our team at ReShape as we continued to grow our internal portfolio, including LAP-BAND account development; continued to develop and launch of our ReShapeCare program; and progressed the diligence efforts in the last quarter of the year towards expanding our weight loss solutions platform through a merger with Obalon Therapeutics, which led to the definitive agreement we announced in January 2021. In providing patients with safe, effective and proven medical solutions to treat obesity, we understand that every patient is unique and, therefore, may require a tailored treatment plan. This fueled our decision to merge with Obalon and add their FDA-approved Balloon System to ReShape's line of innovative weight loss solutions. The Obalon Balloon System, which is the first-and-only swallowable gas-build balloon system for weight loss, has demonstrated strong efficacy and a best-in-class safety profile for weight loss with lasting results and minimal side effects. In addition to weight loss, patients showed improvement in cardiometabolic risk factors, including fasting glucose, systolic blood pressure, cholesterol and triglycerides. While the merger is exciting news for our stakeholders, we continue to monitor the impact of COVID-19 on our business, recognizing the important role our products and services play in protecting the public health. COVID-19 has heightened the public's awareness of the personal health risk and economic costs associated with the pandemic and individuals who are obese. Recently published data indicates…

Thanks, Bart, and good afternoon, everyone. First, I will provide some overall financial highlights and then discuss our quarterly results and annual results. We finished 2020 with significant accomplishments. And I would like to provide an outline of what we have done. We expanded our ReShape portfolio by entering into a definitive merger agreement with Obalon Therapeutics, a company focused on developing and commercializing novel technologies for weight loss. Also, our merger provides the opportunity for ReShape the trade on NASDAQ Stock Exchange. We began enrolling health care professionals in ReShapeCare, the company's first-in-class reimbursed telehealth-based coaching program, providing patients a tailored, high-touch and personalized virtual treatment. We reduced total operating expenses by $15.1 million or 44.6% year-over-year. We improved non-GAAP EBITDA loss by $2.6 million or 22.1% year-over-year. And we lowered net cash used in operating activities by $5.6 million. Additionally, we secured $15 million line of credit on January 19, 2021, and, thus, removed our going concern issue related to our financial statements. Lastly, our PPP loan of $1 million as part of the CARES Act was fully forgiven on March 1, 2021. For the 3 months ended December 31, 2020, we reported sales of $3.2 million as compared to revenues of $4.1 million in the 3 months ended December 31, 2019, representing a decrease of $900,000 as a result of the COVID-19 pandemic. Our fourth quarter revenue numbers reflect $2.3 million in U.S. shipments and $900,000 from OUS shipments. As a reminder, our OUS revenue now includes European revenues from distributors and direct customers as part of our overall OUS sales. We reported gross profit of $1.6 million in the fourth quarter of 2020, representing a gross margin of 51.2% compared to $2.1 million in the 3 months ended December 31, 2019, at a gross margin of…

Thanks, Tom. While we are excited about the merger with Obalon and progress we've made in the past year, we understand the COVID-19 pandemic will continue to impact our business operations in the year ahead. As we continue to emerge from this pandemic, we believe the transition to a more open and interactive society will help expedite the return of elective procedures in most states. Although we remain optimistic, it is important that we proceed with caution and vigilance and monitor the situation carefully to make strategic, informed decisions. We see this unprecedented environment as an opportunity to strengthen professional relationships and continue our efforts to develop marketing and program support resources intended to accelerate the return of weight loss therapies, which are accessible and critical for the bone well patient population affected by numerous comorbid health conditions. I am very pleased with where we have taken this company in a particularly challenging environment over the course of the past year and excited as to what lies ahead for ReShape Lifesciences going forward. Thank you to our investors, employees and customers for your continued support of our vision to make ReShape the premier weight loss and metabolic health company for patients and health care providers.